Bank of America Corp DE Has $10.96 Million Position in Valmont Industries, Inc. (NYSE:VMI)

Bank of America Corp DE reduced its position in shares of Valmont Industries, Inc. (NYSE:VMI) by 20.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,500 shares of the industrial products company’s stock after selling 18,398 shares during the period. Bank of America Corp DE owned 0.31% of Valmont Industries worth $10,963,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Bank acquired a new position in shares of Valmont Industries during the first quarter worth approximately $117,000. Gofen & Glossberg LLC IL purchased a new stake in Valmont Industries during the first quarter worth $205,000. Janney Montgomery Scott LLC purchased a new stake in Valmont Industries during the first quarter worth $207,000. Timber Hill LLC purchased a new stake in Valmont Industries during the first quarter worth $209,000. Finally, Verity Asset Management Inc. purchased a new stake in Valmont Industries during the first quarter worth $228,000. 84.45% of the stock is owned by hedge funds and other institutional investors.

Shares of Valmont Industries, Inc. (VMI) opened at 152.95 on Thursday. Valmont Industries, Inc. has a 52-week low of $120.65 and a 52-week high of $165.20. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 19.35 and a beta of 0.97. The company has a 50-day moving average of $149.73 and a 200-day moving average of $149.20.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.05. The firm had revenue of $712.70 million during the quarter, compared to analysts’ expectations of $668.06 million. Valmont Industries had a net margin of 6.99% and a return on equity of 14.93%. Valmont Industries’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.85 EPS. Equities research analysts anticipate that Valmont Industries, Inc. will post $7.09 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Wednesday, June 28th. Valmont Industries’s dividend payout ratio is currently 18.96%.

TRADEMARK VIOLATION WARNING: “[[title]]” was first reported by [[site]] and is the property of of [[site]]. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at [[permalink]].

A number of analysts recently weighed in on the stock. BidaskClub raised shares of Valmont Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Stifel Nicolaus reissued a “buy” rating and issued a $171.00 price objective on shares of Valmont Industries in a research report on Friday, July 14th. Finally, Zacks Investment Research lowered shares of Valmont Industries from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Valmont Industries presently has a consensus rating of “Hold” and a consensus price target of $168.00.

Valmont Industries Company Profile

Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.

Want to see what other hedge funds are holding VMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valmont Industries, Inc. (NYSE:VMI).